Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #15509439
Complaint Overview
Complaint ID: 15509439
Company: Payward Ventures INC. DBA Kraken
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Fraud or scam
State: California
ZIP Code: 95677
Date Received: 2025-08-24T12:00:00-05:00
Date Sent to Company: 2025-08-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
CFPB Complaint XXXX XXXX XXXX Payward , Inc. ) On XX/XX/year> my XXXX, XXXX, and XXXX were stolen while I was traveling abroad in XXXX. Within hours, unauthorized actors accessed my XXXX account from a foreign IP address, increased my withdrawal limits, and drained approximately $ about {$70000.00} in cryptocurrency. I did not authorize these actions. I reported the theft and fraudulent activity as soon as I was able ( approximately XXXX hours later ). Despite my report, XXXX did not act to remediate the fraud. Instead, my account was later closed, cutting me off from my own transaction history and any ability to monitor or respond to the case. This sequence of events represents a failure of XXXX fraud-prevention and security controls : Abnormal behavior ( new foreign login, sudden limit increase, and full balance withdrawal ) was allowed without any additional verification. XXXX has a XXXX day hold on withdraws and transfers. I have a video of their process. My concern is how they thieves were able to get around this and XXXX authorized, limit increases and draining my accounts. No alerts, holds, or secondary security checks were triggered. Closing my account after reporting the theft further restricted my ability to review records. I am requesting : A full investigation into the unauthorized access and withdrawals, Copies of audit logs ( IP addresses, devices, and limit-change events ), An explanation of why fraud-prevention protocols did not stop or delay these transactions, I made many calls, emails, and chats to Kraken with loops of no direct communication to support. Before XXXX closed my account I got screenshots of all of the fraudulent transactions.
Frequently Asked Questions
What is Complaint #15509439 about?
Complaint #15509439 was filed against Payward Ventures INC. DBA Kraken regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2025-08-24T12:00:00-05:00.
How did Payward Ventures INC. DBA Kraken respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Payward Ventures INC. DBA Kraken?
Yes, visit the Payward Ventures INC. DBA Kraken company profile at readthecomplaint.com/company/payward-ventures-inc-dba-kraken to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.